The job satisfaction levels of contract workers are markedly below those of permanent employees. While these changes decrease costs for companies, they offer a mixed bag for workers. Together, the rise of work-from-home and the gig economy have loosened the boundaries of the firm, making the ideas of a workplace and a worker more fluid. The amount of time Americans spent working from home jumped from 5% to 60% in the spring of 2020. The pandemic has profoundly shifted the way workers interact with their firms. Technological change is blurring the boundaries of the firm. This will require a major reskilling of the workforce.Ĥ. Bain expects to see a shifting occupational mix in developed economies that will favor uniquely human skills in the workforce of the future. Distinctly human advantages- problem solving skills, interpersonal connection and creativity-are growing in importance as automation eliminates routine work. Automation is helping to rehumanize work. This research shows the need for business leaders to recognize that their personal perspective of what a good job looks like won’t necessarily be shared by everyone in their organization, especially those on the front lines.ģ. For instance, 25% of US executives are “pioneers”-risk-tolerant workers who are on a mission to change the world and will make great personal sacrifices accordingly-compared with only 9% of the nation’s working population. Bain has identified six worker archetypes, each with a different set of priorities: operators, givers, artisans, explorers, strivers and pioneers. As attitudes toward work fragment, the average worker is no longer a useful approximation. ![]() Beliefs about what makes a “good job” are diverging. Those at the bottom of the income hierarchy now work the least hours, as they are often unable to secure the stable full-time employment they desire.Ģ. Far from the idle leisure class of bygone eras, the upper echelons of today’s society now work the longest hours of all, as busyness is seen as a sign of status. This new research shows that as community organizations and religious observance have declined in prominence, new generations of workers may turn to their careers to provide social connection and a sense of higher purpose. While compensation still ranks among the top priorities for most workers, only one in five now rank it as the number one factor in a job with interesting work, job security and flexibility also among the most important priorities. Gains in living standards over the past 150 years are allowing us to spend less of our time working and raising expectations about what a job should provide. “Today’s environment requires a radical rethink of both the structure and the purpose of work, but to do that one needs to first understand the shifting motivations of individual workers.”īain’s research identifies five key themes that are reshaping work:ġ. “Much of the prevailing thinking about the relationship between workers and firms was forged in a very different world than the one we live in today, where options were more limited and relationships more transactional,” said Andrew Schwedel, partner at Bain & Company and co-chair of the firm’s think tank, Bain Futures. Bain’s research looked at 10 countries-the United States, China, Germany, France, Italy, Japan, India, Indonesia, Nigeria and Brazil-that represent around 65% of global GDP and offer a broad perspective from different cultures around the world. ![]() The report is grounded in a survey of 20,000 workers, conducted by Bain & Company and Dynata, as well as more than 100 in-depth interviews. Today, Bain & Company launches its new report, The Working Future, which highlights five key themes that are reshaping the future of work and the steps firms need to take to get ahead in the shifting war for talent. The Covid-19 pandemic catalyzed changes that had long been brewing, and according to a new Bain & Company survey, 58% of workers across 10 major economies feel the pandemic has forced them to rethink the balance between their work and their personal lives. ![]() BOSTON – Janu– Work will never be the same again.
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